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<PAGE>
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D C 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event report): December 31, 1999
GREENPOINT CREDIT, LLC
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(exact name of registrant as specified in charter)
DELAWARE
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(state or other jurisdiction of incorporation)
333-59731
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(commission file number)
33-0862379
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(I.R.S. employer identification number)
10089 Willow Creek Road
San Diego, California 92131
(858) 530-9394
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(address and telephone number of registrant's principal executive offices)
<PAGE>
Item 5. Other Events
(a) Monthly Report
The following are filed herewith. The exhibit numbers correspond with Item 601
(b) of Regulation S-K.
Exhibit No. Description
* 1. Underwriting Agreement, dated November 17, 1998,
between Greenpoint Credit, LLC, as Contract Seller
and Credit Suisse First Boston, as the
representative of the several Underwriters
* 4. Pooling and Servicing Agreement, dated as of
November 1, 1998, between Greenpoint Credit, LLC,
as Contract Seller and Servicer and The First
National Bank of Chicago as Trustee.
99. Monthly Investor Servicing Report.
* Filed previously with the commission on November 30, 1998 as an
exhibit to a report on Form 8-K.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrants duly caused this report to be signed on their behalf by the
undersigned thereunto duly authorized.
GREENPOINT CREDIT
BY: /s/ Charles O. Ryan
---------------------
Name: Charles O. Ryan
Title: Vice President
Dated: January 25, 2000
San Diego, California
<PAGE>
GreenPoint Manufactured Housing Contract Trust
Pass Through
Certificates
Series 1998-1
MONTHLY REPORT - COMBINED
Determination Date: 12-Jan-00
Remittance Date: 18-Jan-00
Month End Date: 31-Dec-99
<TABLE>
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<S> <C> <C>
(a) Class I A Distribution Amount 6,090,192.62
(b) Class I A Distribution Principal 3,689,007.82
Scheduled Payments of Principal 595,460.54
Partial Prepayments 130,164.67
Scheduled Principal Balance Principal Prepayment in Full 1,212,906.70
Scheduled Principal Balance Liquidated Contracts 1,750,475.91
Scheduled Principal Balance Repurchases 0.00
(c) Class I A Interest Distribution 2,401,184.80
Class I A Interest Shortfall 0.00
(d) Class I A Remaining Certificate Balance 430,587,067.53
Class II A Remaining Certificate Balance 217,427,166.43
(e) Class II A Distribution Amount 3,554,499.48
(f) Class II A Distribution Principal 2,096,723.65
Scheduled Payments of Principal 233,112.61
Partial Prepayments 227,903.54
Scheduled Principal Balance Principal Prepayment in Full 825,405.50
Scheduled Principal Balance Liquidated Contracts 810,302.00
Scheduled Principal Balance Repurchases 0.00
(g) Class II A Interest Distribution 1,457,775.83
Class II A Interest Shortfall 0.00
(h) Class I A Pass Through Rate 6.635000%
Class II A Pass Through Rate 7.031250%
(i) Monthly Servicing Fee Class I A 361,896.73
Monthly Servicing Fee Class II A 182,936.58
(j) Delinquency # of Contracts Prin. Balance
--------------------------------------------
a) One Monthly Payment Delinquent 376 14,137,819.29
b) Two Monthly Payments 111 4,275,403.26
c) Three or more Monthly Payments 131 5,901,813.25
------------ -----------------
618 24,315,035.80
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(k) Repurchased Contracts # of Contracts Repurchase Price
--------------------------------------------
(see attached) Total Repurchases 0 0.00
============ =================
(l) Repossessions or Foreclosures Number Actual Balance
------------ -----------------
BOP Repossessions 278 $10,602,181.66
Plus Repossessions this 86 3,117,014.08
Month
Less Liquidations (81) (2,595,411.53)
------------ -----------------
EOP Repossessions 283 $11,123,784.21
============ =================
(m) Group I Enhancement Payment 0.00
Group II Enhancement Payment 0.00
(n) Monthly Advance Group I 615,422.51
Outstanding Amount Advanced Group I 1,724,403.17
Monthly Advance Group II 492,191.77
Outstanding Amount Advanced Group II 966,717.08
(o) Group I Deposit to Special Account/ (Group I Withdrawal from Special Account) 0.00
Group II Deposit to Special Account/ (Group II Withdrawal from Special Account) 0.00
(p) Amount Distributed to Class R Certificateholders 0.00
(q) Net Weighted Average Contract Rate Group I 9.45%
Net Weighted Average Contract Rate Group II 9.03%
(r) Group I Pool Principal Balance percentage 90.085864%
Group II Pool Principal Balance percentage 87.058337%
(s) Aggregate Deficiency Amounts 20,23.33
Servicer Deficiency Amounts received 7,183.17
(t) Net Funds Carryover Amount paid to Class II A Certificateholders 0.00
Net Funds Carryover Amount remaining 0.00
</TABLE>
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